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Ethereum Profit Streak Signals ATH Breakout For Over 90% Of Investors

Ethereum has seen a significant surge in price, reaching its highest level since June at $3,680. This upward trend has resulted in over 90% of Ethereum users making a profit. According to IntoTheBlock, 90.8% of ETH holders are now in profit, the highest since June. The remaining 9.2% of holders who are at a loss hold only 2.8% of the total supply, limiting potential sell pressure. Ethereum's long-term holder base is strong, with 74% of holders holding more than one year, signifying confidence in the token's long-term value. The declining supply on centralized exchanges is also contributing to a bullish outlook for Ethereum. Institutional investments, such as huge inflows into spot ETFs, demonstrate rising trust in Ethereum's future. Ethereum is outperforming the larger crypto market, with a weekly gain of 12% and a rising ETH/BTC ratio. Analysts believe that if Ethereum can retest and surpass the $4,000 resistance, the path to its all-time high would become more convincing. With a strong market sentiment, Ethereum has the potential to break its previous high and reach new levels.
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